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Should I be doing my own bookkeeping and accounting? Is QuickBooks the best software for me to use in my business, or is there another accounting software I should be using? What’s the best way for me to process my payroll? How can I track my money and cash flow? How do I prepare for my business taxes? What do my financial statements really mean? How can I bring my business to the next level? How can I grow my business? What is the best way to create my business strategy? Should I start a side hustle? How can I add bookkeeping as an additional service as a Virtual Assistant? How can I start an online virtual bookkeeping business? And most importantly, how do I manage my small business finances? Welcome to Mastering Your Small Business Finances where we get straight to the point and answer all these questions and more. Each episode is designed for you to take IMMEDIATE ACTION in your business so that you, as a busy entrepreneur, can gain the CONFIDENCE and CLARITY you need to make a successful impact on your business and GROW YOUR BOTTOM LINE. Each week, host Chris Panek, Certified Public Accountant, Business Strategist and Business Coach, breaks down topics like finances, entrepreneurship, money management, leadership, bookkeeping, tax deductions, growth, side hustle, marketing, mindset and motivation into simple JARGON-FREE episodes. One of her strengths is helping small business owners navigate and really understand these complicated topics for over 25 years. Whether you are just starting your business or have an established business, you are in the right place. If you are a bookkeeper or virtual assistant who wants to learn more about business finances to start, grow or scale your bookkeeping business, you too will benefit from this podcast. Ready to Master Your Small Business Finances? Listen in ~ your time will be well spent here! This podcast is sponsored by Financial Adventure. Visit www.FinancialAdventure.com for additional information and free resources.
Episodes
Wednesday Jul 14, 2021
Wednesday Jul 14, 2021
Recording credit card transactions in either QuickBooks Desktop or QuickBooks Online is pretty easy to do as long as you have the correct procedures in place to do it accurately. Over the years, I have seen many different ways businesses have recorded their transactions and how quickly their financial reports can reflect inaccurate data. Most times when I walk them through the correct way to record these transactions, they are amazed at how simple and accurate it can be. In today’s episode, I am going to walk you through one of the best processes for recording your credit card transactions and making payments in your QuickBooks file all the way through saving your receipts and reconciling your credit card statement to ensure you have all your transactions accounted for. I am going to also mention a few of the ways that I have seen businesses record their transactions so that you can see if you would benefit from this new process in your business. Listen in today if you are tired of struggling to record your credit card transactions and you are looking for a solution to make it simple and accurate. This episode is perfect for you if you are if you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant and you are either looking into or already using QuickBooks Desktop or QuickBooks Online…
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you have a question or need help with your bookkeeping:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jul 07, 2021
Wednesday Jul 07, 2021
One of the questions I receive from clients is how to transfer funds in QuickBooks Desktop and QuickBooks Online. Both have an extremely simple way to do this, but if you are unsure about how to do it, or you do it incorrectly, you could be causing your balance sheet and your income statement to reflect the wrong information. Recording all your transactions is important to make sure your bank reconciliation goes smoothly. Making sure each of these transactions are classified to the correct account will not only ensure your transactions are showing up in the correct accounts, but it will also make sure that your balance sheet and your income statement are accurate. You don’t want to overstate your income by recording a transaction that should have been a simple transfer from one account to another. Today I am going to talk about how easily you can transfer your funds with one simple entry. Listen in to this week’s episode if you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant and you are either looking into or already using QuickBooks Desktop or QuickBooks Online to make sure you are using this simple and effective way to easily transfer funds between accounts…
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jun 30, 2021
Wednesday Jun 30, 2021
The excitement of starting your very own business and the beliefs of your success are high when you are first starting your business. You think about what you want to sell, how you will sell it, the marketing and just how much your business is needed in the marketplace. You might have started an online business, you could be a course creator, you may have decided to be a small business coach, life coach, virtual assistant, bookkeeper, podcast manager or other service based or product based business. Whatever the business you started, you were pumped and had no reason to doubt that your business will be anything but a big success. But then something doesn’t go the way you originally planned, and you begin to doubt if your business will be successful. You wonder if you made a big mistake, or you may have self-doubt kicking in and you wonder if you are even the right person to have started this business in the first place. We’ve all been there, but how do you keep up your positivity and belief that your business will be successful when you start having these doubts? In today’s episode, I am talking about what can happen when you have these doubts and what you can do to continue to not only believe in the success of your business but believe in yourself as well. I want to make sure that you continue to hold on to that excitement you once had for your business and what you can do each and every day to make sure you don’t lose that insight. Listen in to today’s episode, especially if you are getting ready to start your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant, and make sure you are following these important steps to ensure the continued success of your small business…
Enrollment Is Open For My Elevate Your Bookkeeping Business Framework. If You Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Register Here:
www.FinancialAdventure.com/MasterClassRegistration
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jun 23, 2021
Wednesday Jun 23, 2021
When you think about a paperless business, does this sound like a dream come true, or do you view it more as a nightmare? There are many businesses that don’t even offer a paper receipt anymore. So, when you don’t have a receipt, how are you supposed to even manage it? My clients will ask me about the best way to manage their business receipts, and unfortunately, my answer is normally: It depends. I know this isn’t a good answer, and it surely isn’t what the client wants to hear, but the main reason for the unclear answer really is because every business is unique, and every business owner is unique. I always talk to my clients to see what the best option is for them. I want to make sure the option they select is something they are able to do, and they are consistent. Your overall goal when setting up a system to manage your receipts should be to make it as simple as possible while developing a system where you will be able to find your receipts when needed. Today I am going to talk about the best ways to manage your receipts using paper and paperless options whether you are using a software like QuickBooks or Xero or you do your bookkeeping manually. If you feel like this is an area in your business where you struggle to have a good system in place, or if you already have a system in place, but wonder if there is an easier way to manage your receipts, you definitely want to listen in. This episode will be helpful for you whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper, virtual assistant or VA. Every business has receipts they need to manage, and after this episode, you will be able to decide which system will work best for you to be able to locate your receipts easily when you need to…
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Tuesday Jun 15, 2021
Tuesday Jun 15, 2021
As a business owner, you work hard day after day and put in long hours to reach your goals and milestones, but once you have finally reached your milestones, what should you do? Do you just push forward to reach yet another milestone, or do you actually take the time to pause, celebrate and reward yourself and your team if you have one for a job well done? When you are just starting your business, there are many milestones you reach and they can sometimes happen fairly quickly, but if you are so busy working toward your next milestone it is easy to miss those celebrations. I want to make sure you are celebrating your milestones in your business, and I personally have a milestone I am going to celebrate with you today, and to celebrate, I have an opportunity for you…but I’ll talk more about that a little later. I’m also going to talk about what milestones are and what you should be keeping track of so that you know exactly when you have reached a milestone, as well as how to make an impact when you are celebrating your milestones. So, whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant, you’ll want to listen in to this episode and make sure you don’t let these important milestones in your life and business slip by unnoticed and without a proper celebration…
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Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jun 09, 2021
Wednesday Jun 09, 2021
Automating your transactions is one of the major ways you can save time when you are doing your bookkeeping. By utilizing systems such as QuickBooks Online’s bank feeds, you can definitely save a lot of time rather than manually entering each and every transaction, but the only way you will ensure you have reliable financial statements ( Balance Sheet and Profit & Loss or Income Statement ) is to make sure you have it set up correctly. I’ve seen clients who have set up bank feeds and not follow the correct steps who look at their financial statements and wonder why nothing looks right. This is exactly what happens when you hear the phrase garbage in / garbage out. If you don’t take the time to set everything up correctly in the beginning, you won’t be able to rely on your financial statements. You don’t want to find yourself putting in all the work only to have inaccurate information. In today’s episode, I am going to walk you through how you should set up and use the bank feeds in QuickBooks Online to ensure you are using it to its fullest potential. By setting up your bank account connection, managing bank rules, matching transactions and adding transactions correctly in QuickBooks Online, you will surely not only save time, but you will have reliable financial statements allowing you to make smart business decisions. If you already use bank feeds or if you have been thinking about getting them set up, but are unsure how to use this function correctly, listen in to find out what your next steps should be to take full advantage of this feature, whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant…
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday Jun 02, 2021
Wednesday Jun 02, 2021
You started the year off strong, you set all your goals for how you wanted to do your bookkeeping this year and just like that, it’s June, and now is the time for you to do a mid-year bookkeeping and financial checkup to see how your small business is doing. Time flies by so quickly, and before you know it, we will be flipping the calendar to the month of December. Today, we are doing a checkup to make sure you have been able to stay on track when it comes to your small business bookkeeping. Now is the time to make sure you are doing everything you can to stay up to date, and if you find that you have slipped a little, this episode will help you get back on track quickly and make sure you are able to stay up to date going forward so that you can ensure you have a smooth transition at year end. This halfway point is also a great time to take a look at how your business is doing. Are you meeting your sales goals, is your income higher or lower than what you were projecting, and what should you do if you are seeing numbers you didn’t expect? I’ll also help you focus on which reports you should be looking at, whether you are using a computerized software system like QuickBooks or even keeping track of your business finances manually or using a Google or Excel spreadsheet. It is extremely important to keep a pulse on how your business is doing throughout the year whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant, so listen in and make sure your business is on track to reach all your goals by doing a mid-year financial checkup…
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday May 26, 2021
Wednesday May 26, 2021
Cash flow refers to the money moving in and out of your business. When you have a positive cash flow, it simply means that you have enough money to manage the payments of any money that goes out of your business. If you have more money coming into your business than going out, you will have obtained a positive cash flow. Many business owners think the only way they can increase their cash flow is to increase their sales or increase their net income. This statement is partially true. You will increase your cash flow if you see additional sales, but what if you could increase your cash flow without adding any additional sales? If you are experiencing a tight cash flow, or maybe even a negative cash flow, there are things you can do in your business right now to help give your cash flow a boost without increasing your sales. I understand there may be times in your business when you really rely on having enough cash flow to get by, and I know this past year has been hard for a number of small business owners. If you are using a computerized software solution such as QuickBooks, you can easily generate a cash flow statement to see exactly where your business stands. Today, I am going to talk about one simple tip you can do to help increase your cash flow whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant. Your cash flow will be a huge contributor to making sure your business will survive, so listen in and make sure you follow this one simple tip...
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.facebook.com/groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.
Wednesday May 19, 2021
Wednesday May 19, 2021
When you have your own business, it can be hard to create the work life balance many people only dream of creating. Although having your own business sounds like you are in control of how much and how often you work, you may hear otherwise from many small business owners. Are they working long hours, and do you need to work 24 hours a day, 7 days a week to be successful? If not, how many hours do you need to put in as a small business owner to achieve success in your small business? Believe it or not, the most important part of this question is really how you define success in your small business. Every business owner has their own opinion about what success means in their small business, but once you have that definition and you know what your successful business looks like, you will be able to create your work schedule around it. You will also notice a big difference in the number of hours a startup business owner works in contrast to a more seasoned business owner. Today I am covering many aspects of work life balance and how many hours you should be working to reach the success you are looking for in your small business. I am talking about the many differences there can be to each individual business and how your family life will have an impact as well. Listen in and see if you are working the right number of hours in your small business, whether you are just starting your small business, you’re a solopreneur, entrepreneur, small business owner, virtual online bookkeeper or virtual assistant…
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources
Wednesday May 12, 2021
Wednesday May 12, 2021
You made the leap; you took the jump, or you stepped off the cliff. No matter how you say it, you are now invested as an entrepreneur and have your very own business. These are exciting times for you. You are finally able to make the impact you have waited so long to make. It is your dream come true, but now that you are there, what can you do to make sure you continue to enjoy your new venture? So many times, you will find a business owner who started their business and loved it, but soon found themselves frustrated with the path it was leading them down. When you start your own business, you have many ideas and goals. You have a vision of where you want your business to go. You have goals for how your business will influence your personal live, but if you are not careful about how you run your business, you may quickly find your business is instead running you, and your life. Today I am going to dive into a few of the best tips to surviving your first year as a business owner. These tips are not only essential for a new business owner in their first year of business, but they are very important to follow through on each and every year of owning your business. By following these tips, you will continue to remain in control of your business. You will not only survive your first year, but you will thrive in years to come. In today’s episode, I am going to help you brace yourself and your small business for any curveballs that may be coming your way. We know owning a business can consume a lot of your time and I’m going to walk you through some best practices for your relationships, both personal and business. If you not only want to survive your first years in business as a solopreneur, entrepreneur, small business owner, virtual online bookkeeper, virtual assistant, or you are just starting to think about starting a small business, you don’t want to miss this episode to make sure you are able to maintain a healthy and positive personal life in addition to enjoying all the success you will obtain from owning your small business…
Want To Create A Profitable Bookkeeping Business (Or Improve Your Existing Bookkeeping Business), Check Out My Elevate Your Bookkeeping Business Program:
www.FinancialAdventure.com/Elevate-Waitlist
Grab Your FREE guide: 5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide is waiting for you:
www.FinancialAdventure.com/StarterGuide
Fill out the Contact Us form if you are a small business owner looking for a qualified bookkeeper:
www.FinancialAdventure.com/Contact-Us
Sign up for a quick chat to see if starting a Virtual Online Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community: www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes: www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources